| Sourced From Bloomberg.com |
June 19 (Bloomberg) — The market for trading rights to spew carbon dioxide, created by the 1997 Kyoto Protocol to reduce global warming, is under attack by developing countries and environmentalists as negotiators hammer out a sequel treaty.
Investors who trade pollution permits are fighting proposals to limit or kill a United Nations program that lets European companies offset requirements to cut emissions by bankrolling low-carbon projects in emerging economies. The process creates allowances that the World Bank says accounted for 26 percent of the $126 billion of credits that traded in the carbon market in 2008.
China and Mexico want wealthier governments to subsidize clean-up projects directly, with the Chinese saying investments from Western companies should
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on Jun 20th, 2009
@ 4:33 am:
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